March FMMO Class I base price lower

The March 2015 federal order milk marketing order Class I base milk price is $15.56/cwt., down 68¢ from February 2015, $8.08 less than March 2014, and the lowest since July 2012.

Through the first quarter of 2015, the Class I base average is $16.79/cwt., down $5.59 compared to the same period in 2014.

 

Daily CME Cash Trading: Feb. 19

 

 

Daily

 

Close

Change

 

($/lb.)

(¢/lb.)

Cheddar barrels

1.4850

no change

Cheddar blocks

1.5400

no change

NFDM Grade A

1.1500

down 5.0¢

Butter Grade AA

1.7225

up 0.25¢

 

CME Class III Futures: Feb. 19

 

Close**

Change

Month

 ($/cwt.)

(¢/cwt.)

Jan. 2015 *

16.18

 

Feb.

15.73

-1

March

15.81

-29

April

15.73

-21

May

16.07

-8

June

16.68

-3

July

17.20

-5

Aug.

17.66

-1

Sept.

17.68

-4

Oct.

17.57

-9

Nov.

17.44

-1

Dec.

17.14

5

2015 ave.

16.74

 

Source: CME

 

 

* Final federal order price

 

** Preliminary

 

 

 

Weekly average California NFDM price

Week ending

Avg. price ($/ lb.)

7-day sales (lb.)

Feb. 13

1.0112

10,750,181

Feb. 6

1.0397

7,864,339

Jan. 30

0.9676

19,829,109

Jan. 23

1.0120

12,530,493

Jan. 16

1.0199

15,016,314

Source: CDFA

 

 

 

Weekly National Dairy Product Sales Report

Week ending Feb. 14, 2015

 

 

 

 

Change from

 

Ave. price

previous week

 

($/lb.)

(¢/lb.)

Butter

1.70

6.8

Cheddar blocks

1.53

-1.2

Cheddar barrels

1.53

0.7

Dry whey

0.527

-3.3

NFDM

1.02

0.4

Source: USDA Ag Marketing Service